By Marisa Wong
Madison, Wis., June 23 – Hong Leong Bank Bhd. said it completed the issuance of RM 500 million of Basel III-compliant tier 2 subordinated notes.
The 10-year notes have a coupon of 4.8%.
The notes are callable on any coupon payment date beginning five years after the issue date.
This is Hong Leong’s first issuance of ringgit-denominated subordinated notes under its RM 10 billion multicurrency subordinated notes program announced in April.
Hong Leong Investment Bank Bhd. is the lead arranger for the program.
The Kuala Lumpur-based bank will use proceeds for working capital and other corporate purposes and to refinance any existing borrowings.
| Issuer: | Hong Leong Bank Bhd.
|
| Issue: | Basel III-compliant tier 2 subordinated notes
|
| Amount: | RM 500 million
|
| Maturity: | 10 years
|
| Coupon: | 4.8%
|
| Call option: | On any coupon payment date after five years
|
| Announcement date: | June 23
|
| Rating: | RAM Rating Services: AA2
|
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